Piyush Goyal calls for a stronger global startup ecosystem

Addressing the inaugural meeting of the G20’s Startup 20 Engagement Group in Hyderabad, the minister said the network will support and inspire startups, facilitate the exchange of ideas, best practices, funding mechanisms and facilitate collaboration. He said we need to work as a team to Under research and development.

He believes that it is not just the role of individual countries to support innovation, but also the global effort to foster startup ecosystems in all regions of the world and to create an inclusive and supportive global startup ecosystem. It is the joint responsibility of all countries to create Sustainable to meet global challenges.

Goyal said India is proud to host the G20, highlighting the progress and potential of the global startup ecosystem. He said the Startup20 group was established for the first time under India’s G20 presidency as part of India’s special commitment to innovation.

He believed that innovation would be a powerful pillar to help build advanced India in Amrit Karl. Goyal said innovation is a catalytic force for economic, social and public good. “Innovation in today’s world goes beyond just achieving economic goals because it also considers social inclusion and environmental sustainability,” he said.

The Minister observed that India began its startup journey with the cornerstone laid by Prime Minister Narendra Modi in 2016 with the launch of the Startup India Initiative. Over the past seven years, he said, he has helped startups grow and thrive by fostering an entrepreneurial spirit, helping foster more and more new ideas, and creating an ecosystem that fosters growth. .

He added that India’s startup capabilities in various sectors have helped India face many challenges, including energy, financial inclusion and fighting the pandemic.

Goyal noted that the world faces many global challenges, from climate change to poverty and inequality. He expressed his firm belief that innovation can pave the way to solving these problems.

The minister said that in the context of Indian startups, entrepreneurs are tackling these challenges head-on with their creativity and ingenuity. Examples of digital public goods such as Corwin, UPI and ONDC, SocialHe cited as a means to tackle the problem by redefining innovation and ensuring inclusive growth in India.